Hello there, @Rozmore13. I've got a few steps we can perform to fix the discrepancy between the Accounts Receivable (AR) Balance Due and Collection Letters by underpayment in QuickBooks Desktop.
We can double-check the balance due in the client account to ensure it's correct then review the transactions and make sure all payments and adjustments have been accurately recorded.
This can be possible by initially running an accounts receivable report and making sure to check the settings and parameters used. Ensure that the correct criteria are being used.
We can run the A/R Aging Detail report. Here's how:
- Go to the Reports menu then select Customers & Receivables.
- Choose A/R Aging Detail then set the Dates to All.
- Select Customize Report and select Advanced under the Display tab, then Report Date.
Next, let's run the Open Invoices report:
- Go to the Reports menu then select Customers & Receivables.
- Select Open Invoices then set the Dates to All.
- Choose Customize Report and select Advanced under the Display tab, then change the Open Balance/Aging option to Report Date.
Lastly, let's compare the two reports:
- From the View menu, select Multiple Windows.
- From the Window menu, select Tile Vertically.
If the reports don't match your Collection Letters, we can proceed and correct rebuilt names. For the detailed step-by-step process, check out this article: Correct AR balance in QuickBooks Desktop.
Additionally, you can visit this link to further help you in fixing your balance sheet: Fix a Balance Sheet that's out of balance. You'll also find here a link for doing advanced troubleshooting in fixing balance sheet issues.
Please feel free to let me know if you need additional assistance managing your Accounts Receivables and Collection Letters in QuickBooks Desktop. I'll be right here, looking forward to assisting you once again and making sure your records are accurate. Just hit the Reply button and I'll get back to you. Keep safe.
